Welcome to My Credit Reports

My Credit Reports provides a free resource for those who wish to learn more about their credit scores and how those scores will affect their various stages of life. No matter where you are in your financial journey-whether it be making your very first credit decisions or cashing in your 401K funds-we are here to help you plan your financial future.

We realize that many are experiencing financial difficulties during this precarious time; Wall Street is shaky at best, and the safety of the investments that had been considered "fail proof" are now being called into question. This has resulted in a substantial number of Americans rethinking their monetary practices-prompting many to become educated on important financial topics. None of these topics are more important, though, than the topic of credit and its direct role in your personal finances.

No matter your current financial state, you can benefit from becoming more knowledgeable about credit, credit reports, FICO scores, repairing credit damage, smart money management, and credit building techniques. For your convenience, we have made available valuable information for whatever stage of live you may currently be in. With this knowledge, you can begin taking control of your financial future today!

Debt Collection Agencies aren't Above the Law

In today's financial climate, bringing up the subject of debt collect in conversation can clear a room faster than you can say "recession." As more and more Americas default on mortgages and auto loans-not to mention the myriad forms of consumer debt available-the reality of debt collection hits closer to home than it has in decades. With just a whisper of the words "debt collector," visions of black-suited men sneaking up on you at night to take away the Honda Pilot, the Samsung 52" LCD, the Bose home theater, even the miniature schnauzer, can be pretty overwhelming. But rest assured: there are some things even debt collectors can't do.

Debt collection agencies answer to a higher power, and that power is the Federal Trade Commission (FTC). The FTC enforces an act that protects Americans from debt collection agencies by limiting what they can and cannot do. The Fair Debt Collection Practices Act (FDCPA) successfully keeps the debt collectors in check so that they operate more like professional representatives, rather than thugs itching to break some thumbs. But it is important to remember that the FDCPA does not rob the agencies of their power, it simply applies limits to them. Debt collectors can still come after you, they just have to play nice when they do.

Typically, the first action that debt collectors take is a phone call. The FDCPA stipulates that agencies cannot call before 8am or after 9pm, nor can agencies continue calling once you have requested that they cease and desist. Of course, just because they are not calling doesn't mean they forgive and forget, it simply means that you have been warned of the agency's actions. Other restrictions against agency calls is that they cannot contact third parties (people other than your spouse or attorney representing you) more than once, nor are they allowed to discuss the details of your debt with those third parties. The only information that they are permitted to request is your contact information.

When a debt collection agency contacts you, they are also limited on what they can and cannot say. For example, agencies cannot tell you "you will be arrested if you don't pay your debt; they'll seize, garnish, attach, or sell your property or wages unless they are permitted by law to take the action and intend to do so; or legal action will be taken against you, if doing so would be illegal or if they don't intend to take the action" (FTC.gov). And, just as important, debt collectors cannot lie to you or make false claims about their actions to recuperate the amount/s you may owe.

Finally, the most important thing to take note of is that collection agencies cannot smear your reputation, post embarrassing photos of you online, hack your MySpace or Facebook account, or leave threatening notes on your doorstep. Having a debt collector on your trail is never fun, but keep in mind that once your debts are covered, everything is smooth sailing!